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Domain name sales related to “ETH”, related to the rise and fall of Ether?
Industry Information
31 May 2024 11:24:47 AM
Abstract:
This article relates to the sale of ETH-related domain names in the Web2 domain space, not .eth. The cryptocurrency Ether (ETH) has risen rapidly this year. closing at around $2,283 in 2023, it rose to $4,066 on March 11, 2024. Since then,
This article relates to the sale of ETH-related domain names in the Web2 domain space, not .eth.
The cryptocurrency Ether (ETH) has risen rapidly this year. closing at around $2,283 in 2023, it rose to $4,066 on March 11, 2024. Since then, the price of Ether has been fluctuating up and down and is currently at $3,783.
Back in 2021, ETH was in a similar situation, triggering a boom in the sale of “ETH” domain names. Some of the domains had meaningless suffixes.
At the start of 2021, ETH was trading below $1,000 and on November 21, 2021, it soared to an all-time high of $4,891 USD.
Many prominent domain investors have been beneficiaries of the ETH domain gold rush. the largest deal Logan Flatt of MediaCode LLC ever made with ETH.co was for $300,000 dollars.
Ether's Rise and Fall and Domain Sales
Now you'll notice that there were no “ETH” domains for sale until September, and ETH plummeted from May 8 to July 20, when the token traded at $1,786, down more than $2,000 per token.
ETH began to recover and sales picked up again, with six sold in two days and ETH.club sales topping $200,000.
The buying activity continued right up until Christmas, just as Santa Claus brought in the holiday ETH domain sales for domain investors.
What happened to the domains sold?
As you can see from the 15 “EHT” domain related sales above, most of the domains purchased three years ago have not been renewed on the name servers, and only two have been used for website development. This data suggests that these domains were purchased primarily for investment purposes, rather than for actual use or website development.
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